Ravi & Arjun Aloysius granted bail after indictments were served

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Former Minister Ravi Karunanayake and the Perpetual Treasuries Limited (PTL) owner Arjun Aloysius were granted bail by the Colombo High Court today (February 05) after indictments were served on them.

The matter was called before Colombo High Court Judge Aditya Patabendige this morning.

The defendants were released on two cash bails each worth Rs 500,000 and two personal bails each valued at Rs 5 million.

High Court Judge, issuing an overseas travel ban on the former minister and PTL owner until the hearing of the case concludes, ordered them to hand over their passports to the custody of the court. He also called for a report on the fingerprint analysis of the duo.

A copy of the order will accordingly be directed to the Controller-General of Immigration and Emigration and the Bandaranaike International Airport in Katunayake.

The case will be taken up again on the 12th of February to complete the bail proceedings of the accused and again on the 1st of April to examine if all necessary proceedings for the hearing of the case have been completed.

Karunanayake has been charged under Section 19 (c) of the Bribery Act for taking up residence –all the while serving as the Finance Minister– at ‘No. 5 PH2, Monarch Housing Complex’ acquired under the Walt & Row Associates (Pvt) Ltd, where the second accused of the case Arjun Aloysius is a director, during the period from 12th February to 30th September, 2016.

The Commission to Investigate Bribery or Corruption (CIABOC) has filed indictments against the duo on the 21st of September last year.

The indictments allege that defendant Aloysius had paid a sum of Rs 11.68 million, through cheques of Walt & Row Associates (Pvt) Ltd and Purchasing Capital Company, for the said house.

Arjun Aloysius, the second accused in the case, was also indicted under Section 19 (c) of the Bribery Act for aiding and abetting the process.

Accordingly, the total number of indictments filed against the two defendants in this case is six. Thirty-two persons have been named as the witnesses of the case.